₹45k-cr export boost gets cabinet approval

The Union cabinet on Wednesday approved a ₹45,060 crore-package, including a ₹25,060 crore Export Promotion Mission proposed in the Union budget, that aims to provide liquidity support to small and medium enterprises and help exporters tide over global headwinds such as high US tariffs.

- Rajeev Jayaswal

The cabinet chaired by Prime Minister Narendra Modi has approved a “new and comprehensive” Export Promotion Mission (EPM) to promote the “complete export ecosystem” worth ₹25,060 crore, information and broadcasting minister Ashwini Vaishnaw said in a briefing. It has also approved a ₹20,000 crore-credit guarantee scheme, he said, adding that the scheme aims “to support our exporters in the current situation” as global trade has been hit by volatile geopolitical developments and tariff barriers.

Speaking about the EPM, he said: “This is a very comprehensive mission, which has been approved by the Cabinet under the leadership of our Hon'ble Prime Minister today. As you recall, in the previous Budget [February 1, 2025] this announcement was made that one export promotion mission will be started," he said, adding that the mission has a tenure of six years.